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The price of gold rises 2.93% amid uncertainty due to financial chaos

The price of gold rises 2.93% amid uncertainty due to financial chaos

The price of gold in Uruguay registered a rise of 2.93% today, in line with what is happening worldwide where the metal is sold at almost $1,900 an ounce as a result of the uncertainty created by the financial chaos in the United States from bankruptcy Silicon Valley Bank (SVB).

Meanwhile, the 24th gram is available at 2,412 pesos ($59.62); while the 18th gram is 1,809 pesos (US$44.72).

The price of gold in the international market

Gold is nearing $1,900 as investors seek refuge from the uncertainty caused by the failure of Silicon Valley Bank, but are encouraged by bets that the Federal Reserve (Fed) may be forced to moderate rates.

Spot gold was up 0.9% at $1,885.37 an ounce. Early in the session, prices reached their highest since early February at $1,893.96. US gold futures were up 1.2% at $1,889.50.

On Friday, gold gained 2% after Silicon Valley Bank (SVB) was shut down by Californian regulators. Regulators also closed the New York bank on Sunday Signature Bank.

How to buy physical gold in Uruguay?

For physical purchase of gold in small quantities, there are some financial institutions regulated by the Central Bank of Uruguay (BCU), offering bullion coins from various countries and bars ranging from from 1 gram to 100 grams.

The coins most frequently seen in the limited Uruguayan circuit are British pounds (sovereigns), the 100 Pesos Chileansthe 50 pesos mexicansthe Eagles of 10 and 20 US dollars, the iconic Krugerrand South African The Panda Chinese, and the maple leaf Canadian.

In addition, there are options in the world of cryptocurrencieswhich are operable through an exchange, as in the case of PAX Gold (PAXG) —backed by physical gold—, the second best-known stablecoin behind the dollar-anchored Tether (USDT).

Source: Ambito

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